NetEase, Inc Hits New 1-Year High on Better-Than-Expected Earnings (NTES)
NetEase, Inc (NASDAQ:NTES) reached a new 52-week high on Friday following a better than expected earnings announcement, StockRatingsNetwork reports. The company traded as high as $87.00 and last traded at $86.66, with a volume of 380,088 shares trading hands. The stock had previously closed at $85.41.
The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02.
Several analysts have recently commented on the stock. Analysts at Oppenheimer raised their price target on shares of NetEase, Inc from $80.00 to $95.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Macquarie raised their price target on shares of NetEase, Inc from $84.00 to $100.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of NetEase, Inc in a research note on Tuesday. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. NetEase, Inc has an average rating of “Hold” and an average target price of $80.80.
The stock’s 50-day moving average is $81.36 and its 200-day moving average is $73.19. The company has a market cap of $11.305 billion and a price-to-earnings ratio of 15.03.
NetEase, Inc is a holding company. The Company is an Internet technology company. The Company operates in three segments: Online Game Services, Advertising Services and E-mail, Wireless Value-added Services and Others.
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